The effect of temperature (40–110 °C), applied mechanical pressure (20–80 MPa), applied pressure profile (constant/linearly increasing) and moisture content (0–8 wt.%, wet basis) on the expression of cocoa nibs were investigated. The maximum cocoa butter yield is achieved at 100 °C. The optimum moisture content with respect to cocoa butter yield is 1.3 wt.%. The cocoa butter yield increases with pressure up till 60 MPa where it has a value of 80% when dry cocoa beans are used. Neither the use of higher pressures nor the use of a linearly increasing pressure profile causes any further increases in the cocoa butter yield when the total pressing time is kept constant. The rate of expression increases with an increase in temperature or a decrease in moisture content. Higher cocoa butter yields (up to 89%) were achieved when cocoa liquor was pressed instead of cocoa nibs.